Thomas & Betts posts 42% surge in profit

SAN FRANCISCO (MarketWatch) -- Thomas & Betts
tnb
on Monday said its second-quarter profit jumped 42% to $28.4 million, or 47 cents a share, from $20 million, or 34 cents, a year ago. Revenue rose 13.3% to $418.1 million, boosted by a strong showing in its steel structures business. Analysts polled by Thomson First Call were looking for a profit, on average, of 43 cents a share with sales of $401 million. The diversified industrial company said it expects 2005 profit to come in at $1.77 to $1.82 a share, mostly in line with Wall Street forecasts.

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